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A look at the housing sector

Mortgage rates jumped again in the busiest period for home sales for the year. The average interest rate on a 30-year fixed-rate mortgage has risen to 5.11%, financial mortgage giant Freddie Mac said on Thursday. The percentage reached 5% last week for the first time since 2011, compared to 3.22% in early 2022. The withdrawal of the Federal Reserve from the mortgage bond market has helped raise interest rates on housing loans in recent months. The Fed is expected to raise the reference interest rate again at its meeting early next month, signaling that more increases are expected by the end of the year. This has led to an increase in the yield on 10-year government securities, with which mortgage…

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 Dealer Anatoliy Pavlov

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